What is the first step in a judicial foreclosure?

The first step in a judicial foreclosure process is the acceleration of the loan. This step occurs when the lender formally demands payment of the entire outstanding loan balance due to a borrower’s default on their mortgage payments. By accelerating the loan, the lender essentially calls in the entire debt, making it due and payable.

This action is crucial as it initiates the framework for a judicial foreclosure, setting the stage for subsequent legal proceedings. After the loan is accelerated, the lender can then proceed with filing a lawsuit to obtain a court judgment, where the court will adjudicate the matter based on the details provided by both the lender and the borrower. Therefore, the acceleration of the loan is a foundational step that leads into the judicial process for the foreclosure itself.